Factory 1 Factory 2 Estimated factory overhead cost for fiscal $653,400 $572,000 year beginning March 1 Estimated direct labor hours for year 8,800 Estimated machine hours for year 18,150 Actual factory overhead costs for March $52,400 $49,300 Actual direct labor hours for March 790 Actual machine hours for March 1,420 a. Determine the factory overhead rate for Factory 1. 36 per machine hour b. Determine the factory overhead rate for Factory 2. 65 per direct labor hour Feedback c. Journalize the entries to apply factory overhead to production in each factory for March. Factory 1 Work in Process 51,120 Factory Overhead 51,120 51,350 Factory 2 Work in Process Factory Overhead 51,350 Feedback d. Determine the balances of the factory overhead accounts for each factory as of March 31, and indicate whether the amounts represent overapplied factory overhead or underapplied factory overhead. Factory 1 602,2 x Debit Underapplied Factory 520,6 x Credit Overapplied 2